MDU Resources Group (MDU) FY2018 results: revenue $4.5 billion, up 2.0% on the year
MDU Resources Group Inc. (MDU) reported revenue of $4.5 billion for fiscal 2018, the year ended 31 December 2018, up 2.0% on the year before. Net income was $272 million, down 3.2%, and diluted earnings per share $1.39. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$4.5 billion
+2.0% on the year
FY2011FY2018
Operating margin
8.9%
9.5% a year earlier
FY2011FY2018
Net income
$272 million
-3.2% on the year
FY2011FY2018
Diluted EPS
$1.39
-2.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
4,532
4,443
4,129
+2.0%
Selling, general and administrative
3,256
3,135
2,894
+3.8%
Operating income
402
424
409
-5.3%
Operating margin
8.9%
9.5%
9.9%
Interest expense
84.6
82.8
87.8
+2.2%
Pre-tax income
317
350
326
-9.5%
Income tax
47.5
65.0
93.1
-27.0%
Effective tax rate
15.0%
18.6%
28.5%
Net income
272
281
63.7
-3.2%
Net margin
6.0%
6.3%
1.5%
Diluted EPS
$1.39
$1.43
$0.33
-2.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
500
448
462
+11.6%
Capital expenditure
568
341
388
+66.4%
Free cash flow
-68.3
107
74.0
Free cash flow margin
-1.5%
2.4%
1.8%
Cash from investing
-711
-214
-305
Cash from financing
230
-245
-195
Depreciation and amortisation
220
207
216
+6.1%
Buybacks
5.0
1.7
0.0
+198.1%
Dividends paid
155
151
147
+2.6%
Dividend per share
$0.80
$0.78
$0.76
+2.6%
Diluted shares, weighted
196m
196m
196m
+0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,567
2,429
2,316
+5.7%
Non-controlling interest
n/a
n/a
0.0
Short-term borrowings
0.0
n/a
n/a
Debt
2,109
1,715
1,790
+23.0%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
2,313
2,191
2,178
+5.6%
Total liabilities and equity
6,988
6,335
6,284
+10.3%
Fixed assets
4,579
4,079
3,931
+12.2%
Goodwill
665
632
632
+5.2%
Intangible assets
10.8
3.8
5.9
+181.9%
Investments
139
138
126
+0.7%
Cash and equivalents
53.9
34.6
46.1
+55.9%
Receivables
723
727
630
-0.6%
Inventory
287
227
238
+26.8%
Other assets
531
494
675
+7.5%
Total assets
6,988
6,335
6,284
+10.3%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.